Affordability still a major buzz kill

London, 31st July, 2007: Statistics compiled by a leading financial provider point out that almost 70 per cent of graduates are left out in the cold in the UK housing market in the event of recent hike in house prices and interest rates.

 

For most of these graduates, climbing the property ladder seems like a distant dream. The reason is that although there has been a rise in the interest rates and house prices, there has been no corresponding rise in the salary. Living on a hand-to-mouth existence, these graduates find it difficult to build up a decent saving for the housing deposit.

 

However, the Government had announced earlier this week that it intended to invest about £8 million into the UK housing development schemes. This plan is seen as an inlet for more consumers into the UK property market and reduction of social disparity in the coming future.

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